Netflix is ​​in trouble again. After losing many customers, the stock price fell, now investors are suing him in court.
Reported by News.com Australia, Sunday (8/5/2022) faced lawsuits from angry investors. They accused Netflix of lying to them about the state of its business.

"As a result of Netflix's misconduct and negligence, plaintiffs and other members of the class suffered significant losses and damages," the lawsuit reads.

Netflix officials are said to have explained to the market that their business fundamentals are strong. Netflix was also expected to continue to grow, but the opposite happened.

The lawsuit alleges that Netflix's misrepresentation and/or misleading and/or failure to disclose information led investors to purchase Netflix shares based on the impression that the company was in a stronger position than before. Even if they knew the truth, they would not have bought Netflix shares.

The plaintiffs are investors who purchased Netflix shares between October 19, 2021, at a price of USD 636, and April 19, 2022, the day before Netflix provides its financial statements for the first quarter of 2022.

On April 19, 2022, Netflix's stock price closed at USD 348, the following afternoon it fell to USD 226. Now its position is at USD 188. Investors lost 70% of their market value. Netflix's capitalization value now stands at USD 83.6 billion (Rp 1,212 trillion)

On April 20, 2022, Netflix also reported losing 200,000 subscribers. It is projected that Netflix will lose a total of up to 2.5 million subscribers by June 30, 2022.

Netflix blames the Russo-Ukrainian war in which 700,000 Russian subscriber accounts have been suspended, password-sharing problems and competition with similar services. It is not yet known what the direct impact of this lawsuit will be on users. However, from the problem of Netflix's declining business, there are already some impacts that users will feel.

Netflix will offer lower subscription fees to attract new subscribers, but the service has a lot of ads. Netflix will also suppress the sharing of passwords by 100 million Netflix customer accounts.

Another impact, users lose a number of films that were or have already appeared on Netflix, such as Pearl, Space Force and Raising Dion.

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